Market activity pertaining to specific stocks, usually around earnings or news events

ZH hates AMZN more than I do!

Go HERE for his take on the poor quality of Amazon’s earnings that came out this evening. Strangely bullish day. The reactions to earnings feels especially severe this time around with reward and punishment being handed out in large amounts. For winners, see CTXS, XLNX, EXPE, AMZN, for losers see DECK, AKAM, CELG.

The Spain downgrade is after the fact,  the VIX is back in the mid-teens  and the trend has been recaptured. The first estimate of Q1-GDP due today will tell if there is any “decoupling” of the US from Europe. This is another recurring idea,  trotted out to explain bullishness gone wild. Europe is our largest trading partner for now and that will change only gradually if at all.  But it feels like a devil-may-care bust out is again in the making.


Apple shall go up 100 points today!

Other than things like BRK-A, I wonder if any stocks have done that before. Jeremy says the DOW is at 15000 by next year and there is no way the market  expects another QE.  Shortly thereafter, March durable goods drop 4.2% and gold obliges by going read. Fed days are generally choppy.  I would think Spy 138-139 is a place to book profits.

Disappointing darlings

Add BIG and NFLX to list of after-hours blow-ups. I must read like I am cherry picking and ignoring the winners. They just dont interest me as much as the losers.  All I am trying to do is to gauge how broad-based (if at all) the slowdown (that ECRI has been sticking with) might be.  And I am more long than short, picking at the “value traps” that I mention on and off.  Bouncing about until FB is not unlikely, but support levels on the SPY appear to be gone, and there is chatter about a head-and-shoulders formation.

Post-script, post-class.  Will be glad when Apple and the Fed are out of the way. Is this move in oil service,SLB, BHI, HAL, DVN, WFT rotation into a beaten down sector or a one-day wonder?

FAZ further update

CS and UBS raise JPM.  Mixed  opinions on WFC with Oppenheimer down and Morgan Stanley up.  Pre-market Faz near  22 and giving up a large part of Friday’s move.   A  bid  below 22 and below where I got in last week beckons. No rush,  we did drop 130 plus DOW points on Friday,  much of that is getting taken back pre-market as slow Monday program shenanigans continue.  For instance, see oil and gold open down and recover most of that already.  Euro-yields must be falling as I see the CAC and DAX making large moves. Fake-out and/or another boring day?

David Walker on CNBC talking about the largest US – treasury bond holder being the Federal Reserve. By extension I auppose that makes some subset of the troika the largest holder of European bonds. How long can the major economies of the world keep financing themselves this way ? And if taxmageddon is really coming, and capital gains taxes might rise, what is the incentive NOT to book gains as this year ends?

Better than FAZ is  a C play, who came in with light earnings, volatility drops as the stock pops undeservedly.

I really have no comments to make on Apple and Priceline.

Google’s governance

As many of you know, I have always been partial to Google’s penchant for bucking Wall Street Wisdom – from its IPO through the dutch auction (which was vilified on the Street, before everyone snapped up the shares), to its resistance to providing quarterly earnings guidance that make analysts’ work easy. This new C class of non-voting shares  touches a new low for democratic governance (they have had something like this before, as do Facebook, Groupon and many others both foreign and domestic).   This is a caste system for shareholders and it troubles me.

FAZ update

There was a fleeting moment this morning when FAZ could have been had lower than I bought in yesterday, but already time to say thank you. Analysts are likely to come out early next week talking about great quarters for JPM and WFC and provide another opportunity later. All that money coming out of Apple and Google will find a home somewhere.  The familiar yo-yo market of the fall appears to be back with Spain on the front-burner.  Too much intraday swinging for me.